Monday, 5 March 2012

Benefits of a MBA degree

Benefits of an MBA degree

The MBA is no doubt the most popular management degree that prepares students to enter the world of business. There are several reasons why the MBA is regarded as the Rolls Royce of management education. Its popularity has increased in South Africa for the following reasons:


  • The MBA is a unique offering that takes an integrated and holistic view of management education i.e. it covers the full range of management disciplines
  • Practical approach to management education - emphasis on action learning that simulates real world management problems. Case studies are used to demonstrate rigorous and challenging management problems in the local and international business environment
  • Employment equity has increased demand for MBA from previously disadvantaged groups i.e. Blacks, females etc.
  • Meets the challenges of globalisation - MBA graduates are able to take a broader geographical perspective due to their training in subjects such as international business and business strategy
  • MBA is internationally recognised - facilitates the mobility of graduates seeking international experience
  • MBA courses allow a wide choice of elective modules that meets the needs of students in specific industries i.e. investment & portfolio management, health care management etc.
  • Business schools are forming partnerships with regional employers to exchange views on innovations and developments in the business world and are using this knowledge for teaching and research on MBA programmes.
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Monday, 6 February 2012

MBA Sterotypes

Popular stereotypes of MBAs—the buttoned-down suit or ruthless CEO portrayed in the movies—may be entertaining but are hardly real.  

 

In fact, we know from years of experience is that there really is no such thing as a "typical" MBA.
With today’s global spread of the MBA degree and the wide variety of business schools, there are millions of MBAs who represent different nationalities and cultures, different career paths, and different backgrounds. A recent study conducted by the U.S. Department of Education showed that MBAs studying in the United States were more diverse than students in any other graduate program. So, who are MBAs? Could you be one of them?
In general, MBA candidates have determined an MBA is likely to further their personal and career goals and have found the right school and program for them. And the admissions staff at their school has decided that their experience, qualifications, and goals show a strong possibility for success as MBA grads.
There’s no magic formula for the perfect undergraduate major, set of academic achievements, pre-MBA work experience and extracurricular accomplishments, essays, interviews, or references. Nor is there a common career goal or industry in which they aspire to work. What MBAs have in common is motivation, self-knowledge, realistic career goals, and a desire to learn and grow.

Pre-MBA Work Experience

Talk to MBAs, and you're likely to meet one who has:
  • Worked in investment banking (well, maybe two)
  • Run a nonprofit company
  • Worked in sales
  • Worked as an engineer
  • Been a policy analyst for a government organization
  • Worked as a consultant
  • Worked as a copywriter for an ad agency
  • Designed websites
  • Worked as a compensation analyst for a corporation
  • Been an auditor
  • Worked as a researcher or an economist
The MBA is right for all these people—as long as they show management talent and a track record of performance in their pre-MBA work, the two things employers look for in new MBA hires.

Academic Preparation

Because MBAs are such a diverse group, all college majors are acceptable preparation, with a few additional considerations:
  • Not all schools have the same undergraduate priorities. Some may favor technical undergraduates, while others may favor language majors who are minimally bilingual. Still other schools want both.
  • You will need certain quantitative and analytical preparation for most programs, such as calculus, statistics, and economics. If you did not take these courses in college, MBA programs may require you to take some courses before you enroll, so you'll be ready to do well in the core curriculum.
  • Academic performance does matter, but how performance is judged will vary from school to school. Some schools will give consideration to difficult majors (such as engineering) or prioritize candidates from particularly competitive schools. The combination of your academic achievement over a period of time and your GMAT® score gives MBA admissions staff a good sense of your academic preparation for the MBA.
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